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HOUSTON-On Nov. 7, Houston voters will decide whether to give the thumbs-up to the Rockets and Comets moving from their city-owned home, Compaq Center, to a luxurious new arena proposed for downtown.

Once that question is decided, another will remain. If a new basketball arena is built downtown, what will happen to the Compaq Center, formerly known as the Summit?One possibility is that the longtime site of basketball, rock concerts and Barney extravaganzas could become a church. The expanding Lakewood Church, known through its own advertising efforts as an “Oasis of Love,” is interested in leasing Compaq Center after the current lease runs out in three years.

Any such plans, however, would have to pass muster with Crescent Real Estate Equities, which controls all nearby parking and the plant that supplies chilled water to the land-locked arena. Any Compaq Center deal would have to include renegotiated leases with Crescent.

“Until the Nov. 7th vote on the arena referendum, any comments from us would be speculative, and we prefer not to speculate,” a Crescent spokeswoman tells GlobeSt.com. “Crescent supports the city and its downtown revitalization efforts. We want to do our part as good corporate citizens and will deal equitably with all parties involved in this issue.”

Compaq Center is one of the few National Basketball Association arenas that haven’t been extensively renovated in an effort to raise more revenue for the teams through suites and other amenities.

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